The New Zealand dollar fell against the USD losing gains from recent days falling below 0.7400. The outlook for the pair is now strongly bearish with supports at 0.7373 and resistance on the upside at 0.7441. The Kiwi could not hold an intraday high of 0.7442.
In New Zealand, a modest increase of 0.1% in retail sales during September quarter, pointed to signs of recovery. Neveretheless, all eyes will be on the AUD in coming days as unemployment news in Australia is digested. These were released today and showed a slight increase of 0.1% to 5.8% in October. While 11,100 jobs were lost, over 24,000 were created. Both gold and the AUD have jumped against the dollar. Upon the announcement of unemployment figures, the AUD jumped half a cent against the USD hitting at one stage 0.9367.
NZD/USD (Nov 12 at 06:38 GMT)
H 0.7442 L 0.7384
| S3 | S2 | S1 | R1 | R2 | R3 |
| 0.7367 | 0.7385 | 0.7404 | 0.7414 | 0.7433 | 0.7451 |
| [?]Trend Index | [?]OB/OS Index |
| Neutral | Neutral |
| Data updated on Nov 12 at 06:00 (15-minute timeframe) |
[ View NZD/USD Technical Studies ]
